# Msci (MSCI.US)

Canonical: https://gigainvestors.com/s/MSCI

Analysis as of: 2026-10-16T07:30:24.256Z. Financial observations: FY2003–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

A wonderful business at too high a price

Quality tests for Buy: pass (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $575.09 per share; close as of 2026-10-15.

Estimated value: low $297.47 per share, central $432.12 per share, high $507.21 per share. Buy at or below the central value $432.12 per share. Valuation as of 2026-10-16T07:30:24.256Z; scenarios are not confidence intervals.

Expected annual return: 8.3% at the stated quote. About 8.3% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 0 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 0

- Years with a net loss: 0

- Operating margin variation: 0.06×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.46×

- FY2018: 0.48×

- FY2019: 0.49×

- FY2020: 0.52×

- FY2021: 0.52×

- FY2022: 0.54×

- FY2023: 0.55×

- FY2024: 0.54×

- FY2025: 0.55×

- LTM to Jun 2026: 0.56×

### moat: pass

- Years with nonpositive invested capital use equity plus debt and leases; positive earnings with no positive capital are shown above 100%.

- ROIC, median of available years: >100%

- ROIC, second-lowest year: >100%

- Typical minus recent gross margin: -0.3 pp

- Typical gross margin (annual median): 82.2%

- Recent gross margin (lower of latest and 3-year median): 82.4%

- Years with nonpositive capital: 1

- Capital spending / revenue: 3.1%

- ROIC including acquisitions, ten-year median: 35.2%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2017: >100%

- FY2018: 23.0%

- FY2019: >100%

- FY2020: >100%

- FY2021: >100%

- FY2022: >100%

- FY2023: >100%

- FY2024: >100%

- FY2025: >100%

- LTM to Jun 2026: >100%

### economics: pass

- Owner earnings / net income, 5-yr: 1.11×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $5.6B

- Net income, five-year total: $5.1B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: 0.6 pp

- Working capital / revenue, change between three-year averages: 4.5 pp

- Working capital / revenue, final three-year average: 31.5%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.11×

- FY2022: 1.08×

- FY2023: 1.06×

- FY2024: 1.16×

- FY2025: 1.15×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 731.1% vs 315.8%

- Per-share earnings: 2.70 to 14.39 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: -3.5%

- Ordinary dilution, 5-year annual growth: -1.9%

- Market cap gain: $35B

- Cumulative retained earnings: $4.1B

- Diluted shares, 10-year annual growth: -3.5%

- Diluted shares, 5-year annual growth: -1.9%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 23.2%

- Per-share value change: $11.68

- Per-share value, starting three-year median: $2.70

- Per-share value, ending three-year median: $14.39

- Buybacks concentrated in cheaper years (correlation): 0.61

- Average buyback yield: 3.6%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $2.1B

- Cumulative net income, 10 years: $7.3B

- ROIC, first three-year median: >100%

- ROIC, last three-year median: >100%

Chart: Earnings per share; fiscal year observations.

- FY2016: $2.70

- FY2017: $3.31

- FY2018: $5.66

- FY2019: $6.59

- FY2020: $7.12

- FY2021: $8.70

- FY2022: $10.72

- FY2023: $14.39

- FY2024: $14.05

- FY2025: $15.69

### accounting: pass

- Sloan accruals: -6.8%

- Receivables to sales index (DSRI): 1.10×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 7.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.32×

- Accounting red flags: 0

Chart: Sloan accruals; fiscal year observations.

- FY2016: -5.6%

- FY2017: -3.1%

- FY2018: -3.1%

- FY2019: -3.5%

- FY2020: -5.0%

- FY2021: -3.8%

- FY2022: -4.5%

- FY2023: -1.6%

- FY2024: -7.2%

- FY2025: -6.8%

## Holders

- [Terry Smith](https://gigainvestors.com/FS): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Allen Bond](https://gigainvestors.com/JIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Thomas Gayner](https://gigainvestors.com/MKL): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Donald Yacktman](https://gigainvestors.com/YAM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Dan Davidowitz](https://gigainvestors.com/pcm): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andreas Halvorsen](https://gigainvestors.com/vg): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Price needs cash profits to grow 11% a year for ten years · "MSCI dips as expenses weigh on Q2 earnings, 2026 outlook" (seekingalpha.com, Jul 2026) · sales +6.4%

Story as of 2026-10-16T09:59:12.503Z; price observation 2026-10-15.

Price needs cash profits to grow 11% a year for ten years

- 2025-10-28: MSCI reports third-quarter profit rise on robust demand for index products ([finance.yahoo.com](https://finance.yahoo.com/news/msci-reports-third-quarter-profit-112158220.html))

- 2026-01-28: MSCI outlines integrated growth strategy and AI transformation with 13% revenue surge ([seekingalpha.com](https://seekingalpha.com/news/4543759-msci-outlines-integrated-growth-strategy-and-ai-transformation-with-13-percent-revenue-surge?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-07-21: MSCI dips as expenses weigh on Q2 earnings, 2026 outlook ([seekingalpha.com](https://seekingalpha.com/news/4615844-msci-dips-as-expenses-weigh-on-q2-earnings-2026-outlook?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-08-26: MSCI’s Elevated 2026 Expense Outlook Might Change The Case For Investing In MSCI (MSCI) ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/msci-elevated-2026-expense-outlook-070931110.html))

### Sales · FY2025–2026

sales +6.4%; source https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm; observed 2026-02-06.

- FY2017: $1.3B 

- FY2018: $1.4B 

- FY2019: $1.6B 

- FY2020: $1.7B 

- FY2021: $2.0B 

- FY2022: $2.2B 

- FY2023: $2.5B 

- FY2024: $2.9B 

- FY2025: $3.1B 

- FY2026: $3.3B 

### Gross margin · FY2026

gross margin 83%; source https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm; observed 2026-02-06.

- FY2017: 78.5% 

- FY2018: 80.0% 

- FY2019: 81.1% 

- FY2020: 82.8% 

- FY2021: 82.4% 

- FY2022: 82.0% 

- FY2023: 82.3% 

- FY2024: 82.0% 

- FY2025: 82.4% 

- FY2026: 83.0% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in financial data & stock exchanges; annual sales are USD 3.1 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm#000140819826000011 (filed 2026-02-06); FY2025: revenue 3134459000; grossProfit 2584093000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); MSCI.US: MSCI Inc., together with its subsidiaries, provides research-based data, analytics, and indexes, supported by advanced technology worldwide. The Index segment provides indexes for use in various areas of the investment process, including indexed financial products, such as ETFs, mutual funds, annuities, futures, options, structured products, and over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well as licenses GICS and GICS Direct. The Analytics segment offers risk management, performance attribution and portfolio management content, application, an integrated view of risk and return service, and an analysis of market, credit, liquidity, counterparty, and climate risk across asset classes; managed services, including consolidation of client portfolio data, review and reconciliation of input data and results, and customized reporting; and HedgePlatform to measure, evaluate, and monitor the risk of hedge fund investments. The Sustainability and Climate segment provides products and services that help institutional investors understand how ESG impacts the long-term risk and return of their portfolio and individual security-level investments; and data, ratings, research, and tools to assist investors navigate increasing regulation. The All Other " Private Assets segment comprises private credit, real estate and infrastructure data, benchmarks, return-analytics, climate assessments and market insights; business intelligence to real estate owners, managers, developers, and brokers; and offers investment decision support tools for private capital. The Private Capital Solutions segment offers tools to help private asset investors across mission-critical workflows, such as sourcing terms and conditions, evaluating operating performance, managing risk and other activities supporting private capital investment. MSCI Inc. was incorporated in 1998 and is based in New York, New York.

### Why customers stay

Margins ranged from 82% to 82.4% during 2023–25; it earns over 100% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2023: grossProfit / revenue = 82.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2024: grossProfit / revenue = 82%.

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm (filed 2026-02-06); FY2025: grossProfit / revenue = 82.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); 10-year return on capital observations [[2017,13.023809173720668],[2018,0.2299061271263627],[2019,7.851462424053017],[2020,3.7065733437747466],[2021,1.7674255121426266],[2022,2.440294801368074],[2023,2.1409057690464874],[2024,3.158353592069158],[2025,5.62367047604403],[2026,3.020732420441119]]; median 3.0895430062551386. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 82% gross margin through 2022 cost inflation.

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm (filed 2026-02-06); Gross margin observations: [[2021,0.824479433768003],[2022,0.8201808415732825],[2023,0.823410388624393]]; range within 2 percentage points.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 2.5 billion of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2016: growth capex 0; upkeep 42628000; owner earnings 299580000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2017: growth capex 0; upkeep 48817000; owner earnings 335142000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2018: growth capex 0; upkeep 48961000; owner earnings 544459000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2019: growth capex 0; upkeep 53770000; owner earnings 611776000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2020: growth capex 0; upkeep 50975000; owner earnings 661642000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2021: growth capex 0; upkeep 52794000; owner earnings 807314000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2022: growth capex 0; upkeep 72895000; owner earnings 940174000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2023: growth capex 0; upkeep 90851000; owner earnings 1216960000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); FY2024: growth capex 0; upkeep 33762000; owner earnings 1281641000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm (filed 2026-02-06); FY2025: growth capex 0; upkeep 39319000; owner earnings 1381556000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); Dividend observations: [[2016,96191000],[2017,119717000],[2018,170938000],[2019,222922000],[2020,246444000],[2021,302449000],[2022,372915000],[2023,440993000],[2024,509109000],[2025,556521000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm (filed 2026-02-06); FY2025: cash repurchases 2484305000 USD.

### Are managers owners

Insiders own 3.6% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); MSCI.US SharesStats.PercentInsiders = 3.596 percentage points; cache date 2026-10-16.

### What could break it

"MSCI is exposed to potential reputational and credibility concerns" (SEC filing, Feb 2026)

- Source: https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm (filed 2026-02-06); MSCI is exposed to potential reputational and credibility concerns

### What the price says

The price assumes cash profits grow 11% yearly over ten years; actual growth was 22.9%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-06); Ten-year compound average after fade. Initial solved rate 0.19340577480552373. Price 575.09; FX 1; discount 0.1; same compounder ten-year fade to terminal 0.03. FY2015 owner earnings/share 2.2951349089387407 → FY2025 18.027506654835847. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $80.19 per share

- 2016-11: $78.80 per share

- 2016-12: $78.78 per share

- 2017-01: $82.75 per share

- 2017-02: $94.59 per share

- 2017-03: $97.19 per share

- 2017-04: $100.32 per share

- 2017-05: $101.73 per share

- 2017-06: $102.99 per share

- 2017-07: $108.95 per share

- 2017-08: $114.61 per share

- 2017-09: $116.90 per share

- 2017-10: $117.36 per share

- 2017-11: $128.70 per share

- 2017-12: $126.54 per share

- 2018-01: $139.23 per share

- 2018-02: $141.52 per share

- 2018-03: $149.47 per share

- 2018-04: $149.83 per share

- 2018-05: $162.57 per share

- 2018-06: $165.43 per share

- 2018-07: $166.19 per share

- 2018-08: $180.26 per share

- 2018-09: $177.41 per share

- 2018-10: $150.38 per share

- 2018-11: $157.09 per share

- 2018-12: $147.43 per share

- 2019-01: $170.27 per share

- 2019-02: $184.72 per share

- 2019-03: $198.84 per share

- 2019-04: $225.38 per share

- 2019-05: $220.01 per share

- 2019-06: $238.79 per share

- 2019-07: $227.24 per share

- 2019-08: $234.63 per share

- 2019-09: $217.75 per share

- 2019-10: $234.56 per share

- 2019-11: $259.19 per share

- 2019-12: $258.18 per share

- 2020-01: $285.80 per share

- 2020-02: $295.44 per share

- 2020-03: $288.96 per share

- 2020-04: $327.00 per share

- 2020-05: $328.85 per share

- 2020-06: $333.82 per share

- 2020-07: $375.98 per share

- 2020-08: $373.27 per share

- 2020-09: $356.78 per share

- 2020-10: $349.84 per share

- 2020-11: $409.42 per share

- 2020-12: $446.53 per share

- 2021-01: $395.30 per share

- 2021-02: $414.52 per share

- 2021-03: $419.28 per share

- 2021-04: $485.77 per share

- 2021-05: $468.13 per share

- 2021-06: $533.08 per share

- 2021-07: $595.96 per share

- 2021-08: $634.58 per share

- 2021-09: $608.34 per share

- 2021-10: $664.88 per share

- 2021-11: $629.45 per share

- 2021-12: $612.69 per share

- 2022-01: $536.12 per share

- 2022-02: $501.69 per share

- 2022-03: $502.88 per share

- 2022-04: $421.25 per share

- 2022-05: $442.35 per share

- 2022-06: $412.15 per share

- 2022-07: $481.34 per share

- 2022-08: $449.24 per share

- 2022-09: $421.79 per share

- 2022-10: $468.86 per share

- 2022-11: $507.83 per share

- 2022-12: $465.17 per share

- 2023-01: $531.56 per share

- 2023-02: $522.15 per share

- 2023-03: $559.69 per share

- 2023-04: $482.45 per share

- 2023-05: $470.53 per share

- 2023-06: $469.29 per share

- 2023-07: $548.08 per share

- 2023-08: $543.62 per share

- 2023-09: $513.08 per share

- 2023-10: $471.55 per share

- 2023-11: $520.85 per share

- 2023-12: $565.65 per share

- 2024-01: $598.62 per share

- 2024-02: $560.97 per share

- 2024-03: $560.45 per share

- 2024-04: $465.79 per share

- 2024-05: $495.18 per share

- 2024-06: $481.75 per share

- 2024-07: $540.76 per share

- 2024-08: $580.59 per share

- 2024-09: $582.93 per share

- 2024-10: $571.20 per share

- 2024-11: $609.63 per share

- 2024-12: $600.01 per share

- 2025-01: $596.77 per share

- 2025-02: $590.51 per share

- 2025-03: $565.50 per share

- 2025-04: $545.11 per share

- 2025-05: $564.02 per share

- 2025-06: $576.74 per share

- 2025-07: $561.36 per share

- 2025-08: $567.72 per share

- 2025-09: $567.41 per share

- 2025-10: $588.55 per share

- 2025-11: $563.72 per share

- 2025-12: $573.73 per share

- 2026-01: $609.22 per share

- 2026-02: $571.83 per share

- 2026-03: $539.01 per share

- 2026-04: $591.41 per share

- 2026-05: $631.38 per share

- 2026-06: $560.04 per share

- 2026-07: $572.24 per share

- 2026-08: $570.64 per share

- 2026-09: $538.66 per share

- 2026-10: $560.82 per share

## Annual estimated value (USD per share)

- FY2016: low $54.29 per share, central $75.54 per share, high $87.39 per share

- FY2017: low $62.35 per share, central $86.64 per share, high $100.18 per share

- FY2018: low $70.82 per share, central $98.83 per share, high $114.45 per share

- FY2019: low $86.81 per share, central $118.72 per share, high $136.52 per share

- FY2020: low $125.58 per share, central $176.32 per share, high $204.62 per share

- FY2021: low $155.26 per share, central $218.90 per share, high $254.40 per share

- FY2022: low $169.56 per share, central $242.00 per share, high $282.39 per share

- FY2023: low $163.54 per share, central $215.41 per share, high $251.29 per share

- FY2024: low $224.03 per share, central $324.78 per share, high $380.97 per share

- FY2025: low $267.68 per share, central $387.77 per share, high $454.75 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:36:08.362Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm); period 2025-12-31, filed 2026-02-06.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Terry Smith](https://gigainvestors.com/FS): 53,580 MSCI shares; USD 30,007,000 reported position value; 0.22% of portfolio; reduce; quarter 2026 Q2.
- [Allen Bond](https://gigainvestors.com/JIM): 6,410 MSCI shares; USD 3,590,000 reported position value; 0.09% of portfolio; reduce; quarter 2026 Q2.
- [Thomas Gayner](https://gigainvestors.com/MKL): 142,850 MSCI shares; USD 80,002,000 reported position value; 0.61% of portfolio; hold; quarter 2026 Q2.
- [Donald Yacktman](https://gigainvestors.com/YAM): 10,900 MSCI shares; USD 6,104,000 reported position value; 0.08% of portfolio; hold; quarter 2026 Q2.
- [Dan Davidowitz](https://gigainvestors.com/pcm): 671,797 MSCI shares; USD 376,233,000 reported position value; 3.24% of portfolio; reduce; quarter 2026 Q2.
- [Andreas Halvorsen](https://gigainvestors.com/vg): 1,160,687 MSCI shares; USD 650,031,000 reported position value; 1.85% of portfolio; new; quarter 2026 Q2.

# MSCI — MSCI Inc.

Held by 6 investors · USD 1,145,967,000 total · 2026 Q2 · reported price USD 560.04 (split-adjusted).
Page: https://gigainvestors.com/s/MSCI

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Andreas Halvorsen (https://gigainvestors.com/vg) | USD 650,031,000 | 1.9% | new |
| Dan Davidowitz (https://gigainvestors.com/pcm) | USD 376,233,000 | 3.2% | reduce -27.73% |
| Thomas Gayner (https://gigainvestors.com/MKL) | USD 80,002,000 | 0.6% | hold |
| Terry Smith (https://gigainvestors.com/FS) | USD 30,007,000 | 0.2% | reduce -17.3% |
| Li Lu (https://gigainvestors.com/HC) | USD 10,207,932 | 0.0% | sold |
| Donald Yacktman (https://gigainvestors.com/YAM) | USD 6,104,000 | 0.1% | hold |
| Allen Bond (https://gigainvestors.com/JIM) | USD 3,590,000 | 0.1% | reduce -17.29% |

## Total held by quarter

- 2012 Q4: USD 190,874,011 · 1 holder · USD 30.99
- 2013 Q1: USD 208,982,097 · 1 holder · USD 33.93
- 2013 Q2: USD 206,294,694 · 1 holder · USD 33.27
- 2013 Q3: USD 297,683,124 · 1 holder · USD 40.26
- 2013 Q4: USD 326,112,995 · 2 holders · USD 43.80
- 2014 Q1: USD 351,306,683 · 2 holders · USD 43.03
- 2014 Q2: USD 430,956,775 · 2 holders · USD 45.85
- 2014 Q3: USD 441,751,019 · 2 holders · USD 47.02
- 2014 Q4: USD 446,408,502 · 2 holders · USD 47.44
- 2015 Q1: USD 577,721,678 · 2 holders · USD 61.31
- 2015 Q2: USD 580,660,238 · 2 holders · USD 61.55
- 2015 Q3: USD 561,677,652 · 2 holders · USD 59.46
- 2015 Q4: USD 466,270,752 · 2 holders · USD 72.13
- 2016 Q1: USD 310,980,432 · 2 holders · USD 74.08
- 2016 Q2: USD 110,890,848 · 2 holders · USD 77.12
- 2016 Q3: USD 11,499,780 · 1 holder · USD 83.94
- 2016 Q4: USD 10,792,860 · 1 holder · USD 78.78
- 2017 Q1: USD 13,315,030 · 1 holder · USD 97.19
- 2017 Q2: USD 14,109,630 · 1 holder · USD 102.99
- 2017 Q3: USD 16,015,300 · 1 holder · USD 116.90
- 2017 Q4: USD 17,335,980 · 1 holder · USD 126.54
- 2018 Q1: USD 20,477,390 · 1 holder · USD 149.47
- 2018 Q2: USD 22,663,910 · 1 holder · USD 165.43
- 2018 Q3: USD 24,305,170 · 1 holder · USD 177.41
- 2018 Q4: USD 41,462,875 · 2 holders · USD 147.43
- 2019 Q1: USD 64,805,933 · 2 holders · USD 198.84
- 2019 Q2: USD 79,223,358 · 2 holders · USD 238.79
- 2019 Q3: USD 524,323,710 · 3 holders · USD 217.75
- 2019 Q4: USD 632,553,909 · 3 holders · USD 258.18
- 2020 Q1: USD 724,624,414 · 3 holders · USD 288.96
- 2020 Q2: USD 913,214,349 · 3 holders · USD 333.82
- 2020 Q3: USD 766,545,041 · 3 holders · USD 356.78
- 2020 Q4: USD 967,283,110 · 3 holders · USD 446.53
- 2021 Q1: USD 718,238,380 · 3 holders · USD 419.28
- 2021 Q2: USD 916,543,102 · 3 holders · USD 533.08
- 2021 Q3: USD 1,053,045,057 · 3 holders · USD 608.34
- 2021 Q4: USD 1,080,787,611 · 3 holders · USD 612.69
- 2022 Q1: USD 608,060,369 · 3 holders · USD 502.88
- 2022 Q2: USD 144,686,907 · 2 holders · USD 412.15
- 2022 Q3: USD 149,315,506 · 2 holders · USD 421.80
- 2022 Q4: USD 164,747,864 · 2 holders · USD 465.17
- 2023 Q1: USD 886,863,507 · 3 holders · USD 559.69
- 2023 Q2: USD 484,646,577 · 3 holders · USD 469.29
- 2023 Q3: USD 551,767,259 · 4 holders · USD 513.08
- 2023 Q4: USD 656,093,473 · 5 holders · USD 565.65
- 2024 Q1: USD 816,439,331 · 6 holders · USD 560.45
- 2024 Q2: USD 1,427,184,348 · 9 holders · USD 481.75
- 2024 Q3: USD 1,714,938,134 · 7 holders · USD 582.93
- 2024 Q4: USD 1,576,688,700 · 7 holders · USD 600.01
- 2025 Q1: USD 1,274,442,536 · 6 holders · USD 565.50
- 2025 Q2: USD 1,229,901,631 · 6 holders · USD 576.74
- 2025 Q3: USD 1,120,667,392 · 6 holders · USD 567.41
- 2025 Q4: USD 988,006,255 · 6 holders · USD 573.73
- 2026 Q1: USD 633,192,898 · 6 holders · USD 539.00
- 2026 Q2: USD 1,145,967,000 · 6 holders · USD 560.04